Gated 5-Unit Apartment
For Sale
$1,250,000
3753 59 N 42nd St, San Diego, CA 92105
Forty Second Street Apartments is a 5-unit apartment community with secure gated entry, communal courtyard, and separate gas and electric metering.
Property Size3,000 SF
Lot Size0.17 Acres
Price / SF$416.67
Days on Market137
Property Features for 3753 59 N 42nd St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
2
Lot size
0.17 Acres
Property subtype
Investment
Site & Location
Neighborhood
Castle
Highway Access
Yes
Additional Details
Multifamily Units
5
Building Details
Building Size
3,000 SF
Year Built
1937
Units
5
Listing Agency:
Lee & Associates
Listed By:
Eric von Bluecher · License #01926201
(760) 929-7846
Source:
Elliman
Added: Jun 18
Changed: Oct 29
Last Checked: Oct 30 at 2:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates
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Investment Insights
Based on property information with market context.
Forty Second Street Apartments is a 5-unit apartment community comprising three separate residential buildings totaling approximately 3,000 square feet. Constructed in 1937, the property includes a diverse unit mix: one four-bedroom/two-bath unit, one two-bedroom/one-bath unit, one one-bedroom/one-bath unit, and two studio units. The community is supported by separate gas and electric metering, and residents enjoy a secure gated entry and a communal courtyard. Parking is available via two gated parking spaces, and the property also generates supplemental income through parking revenue.
Located in the City Heights / Colina Del Sol submarket of San Diego, the property is described as being in the heart of City Heights. The area is noted for convenient access to major employment centers, shopping, dining, schools, and public transportation. The remarks also cite proximity to Interstate 15 and Interstate 805, along with access to Downtown San Diego, Mission Valley, North Park, Kensington, and Balboa Park.
For tenants and operators, the mix of studios, one-bedroom, two-bedroom, and four-bedroom/two-bath units can support a range of household needs within a centrally located multifamily setting. The presence of separate utility metering and gated on-site access are practical management features for an owner seeking straightforward operations in a multi-building format. Buyer to verify all property information, including but not limited to square footage, lot size, unit count, unit mix, parking configuration, utility metering, permits, financial information, rental projections, and all other material aspects of the property.
Located in the City Heights / Colina Del Sol submarket of San Diego, the property is described as being in the heart of City Heights. The area is noted for convenient access to major employment centers, shopping, dining, schools, and public transportation. The remarks also cite proximity to Interstate 15 and Interstate 805, along with access to Downtown San Diego, Mission Valley, North Park, Kensington, and Balboa Park.
For tenants and operators, the mix of studios, one-bedroom, two-bedroom, and four-bedroom/two-bath units can support a range of household needs within a centrally located multifamily setting. The presence of separate utility metering and gated on-site access are practical management features for an owner seeking straightforward operations in a multi-building format. Buyer to verify all property information, including but not limited to square footage, lot size, unit count, unit mix, parking configuration, utility metering, permits, financial information, rental projections, and all other material aspects of the property.
Key Highlights
- 5‑unit multifamily property at 3753–3759 42nd Street in San Diego, built in 1937
- Approx. 7,427 SF lot with three separate residential buildings totaling approx. 3,000 SF
- Unit mix includes four‑bedroom/2‑bath, two‑bedroom/1‑bath, one‑bedroom/1‑bath, and two studio units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,133
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,122,660
$1.1M
Cap Rate 7%
$801,900
$801.9K
Cap Rate 9%
$623,700
$623.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$108.0K $36.00/SF
− Vacancy
−$5.9K −$1.98/SF
EGI
$102.1K $34.02/SF
− OpEx
−$45.9K −$15.31/SF
NOI
$56.1K $18.71/SF
Area
ZIP 92105
Vacancy
5.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,122,660
Cap Rate 7%
$801,900
Cap Rate 9%
$623,700
Alternative Uses
Best Use
Apartment 5plus
$801.9K
$701.7K – $935.6K
NOI $56,133 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,944 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,736
Businesses Nearby
Explore this area
Business Placement
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Forty Second Street Apartments is a 5-unit apartment community with secure gated entry, communal courtyard, and separate gas and electric metering.
Where is this apartment building located?
The property is located at 3753 59 N 42nd St San Diego, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5‑unit multifamily property at 3753–3759 42nd Street in San Diego, built in 1937; Approx. 7,427 SF lot with three separate residential buildings totaling approx. 3,000 SF; Unit mix includes four‑bedroom/2‑bath, two‑bedroom/1‑bath, one‑bedroom/1‑bath, and two studio units
